Perpetual Limited — Director's Dealing 2004

Mar 3, 2004

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Perpetual Trustees Australia Limited
ABN	86 000 431 827

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Robert Murray Savage
Date of last notice	08 December 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest	Purchase by Queensland Trustees Pty Ltd astrustee for Perpetual's Non Executive SharePurchase Plan
Date of change	01 March 2004
No. of securities held prior to change	2,097
Class	Ordinary
Number acquired	113
Number disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$4,891.35
No. of securities held after change	2,210

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	On-market trade
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------	-----------------

Part 2 - Change of director's interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contractin relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, providedetails and an estimated valuation
Interest after change

JADR\DOC\Savage Appendix 3Y Disclosure March 2004.doc

$\overline{\div}$ See chapter 19 for defined terms.